Warburg Pincus–backed StorHub completes acquisition of Storage PLUS in Japan

StorHub Group, an Asian self-storage platform, has completed a 100 percent share capital acquisition of Storage PLUS Corp., a self-storage provider in Japan, from Ichigo.

“We have continued to see strong underlying demand for self-storage driven by continued urbanization, rising housing prices in Asia’s metropolitan areas and the decluttering of apartments due to hybrid work post-pandemic,” said Li Fan, managing director of Warburg Pincus and board director of StorHub. “We believe Asia’s self-storage industry is approaching an inflection point and is poised for accelerated growth in the coming years. StorHub is well positioned with a best-in-class management team and an unmatched value proposition to capture the tremendous growth opportunities ahead.”

Following the transaction, StorHub will become one of the largest self-storage operators in Japan, with approximately 390 stores that are owned, leased and managed. Overall the firm has 440 stores, becoming on